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Asset Servicing Times magazine

Goal recently contributed to a country profile on “Africa” in Edition 51 of the Asset Servicing Times magazine.

“Strate, the licensed central securities depository (CSD) in South Africa, has cemented its position as an African CSD that sought to break barriers beyond its continent. The depository settles close to 30 million transactions per year, with assets under custody in excess of 6.4 trillion South African rand (€6.4 billion), and provides settlement for securities and derivative products such as  exchange-traded funds and retail notes.”

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We are pleased to announce that Goal Group has recently joined a paper recycling scheme to save energy and reduce pollution. The recovered paper we manage to collect goes back into new products which we all use every day – like newspapers, corrugated containers, grocery sacks, cereal boxes and office paper. Recycled paper produces 73% less air pollution than if it was made from raw materials.
Since Goal Group has joined the paper recycling scheme we have managed to save 6 trees in approximately 3 months.

There are many reasons why you should recycle paper which include conservation, energy saving, reducing pollution and landfill reduction. We hope to encourage more people to recycle their unwanted paper.

Paper screwed up into a ball

Paper recycling can save a significant amount of energy used for the manufacturing of new paper or cardboard products. If we recycle our paper, it will reduce the energy needed to cut down, transport, and process the trees into the finished product.
When paper products are sent to landfills, methane is released as the product rots. This methane is harmful to our environment, and most scientists believe that increasing methane and carbon dioxide levels are the two main contributing factors to climate change.
We take our environmental responsibility very serious and encourage others to follow suit.

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A US District judge has largely dismissed the claims of a class action suit filed against Sony after an April 2011 data breach. For a month, millions of user’s personal details were compromised after hackers penetrated the defenses of Playstation Network, Qriocity.

The class action claimed the security breach of their personal data was a result of Sony’s negligence to security.

Details of the class action case

The case was brought in front of Judge Anthony Battagalia by consumers of the PSN service, who cited negligence, unjust enrichment, bailment, and violations of California consumer-protection statutes on behalf of Sony.

Judge Anthony Battagalia dismissed all of these claims in a 36-page order. He found the company did not violate any consumer-protection laws and importantly, the plaintiffs were not subscribed to the premium PSN services, and “received the PSN services free of cost”.

Sony’s Network Security

Battagalia said users should have known that Sony’s security was not “perfect”. As a large commercial company, they are open to online attacks and the breach in April 2011 was not the fault of Sony, but was the consequence of an outside criminal action.

It was also noted that the company has a comprehensive Privacy Policy that each user signed before using the service. The Policy features “clear admonitory language”. This led to the Judge also ruling out prejudice from the charges.

Future of the case

At this stage of proceedings, the plaintiffs have been given the option to amend their claims for injunctive relief and violation of consumer protection law before continuing legal action. Sony has moved to dismiss the class action.

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At the first hearing in the criminal prosecution trial of three former Olympus executives (former Chairman Tsuyoshi Kikukawa, former Executive Vice President Hisashi Mori and ex-auditing officer Hideo Yamada) and Olympus Corporation itself, all three defendants and the company pleaded guilty to all counts in the indictment. The defendants are charged with infringement of the Japanese Financial Instruments and Exchange Act. Olympus’ former Chairman, Tsuyoshi Kikukawa stated “full responsibility lies with me…as the former CEO”.

The three individuals accused admitted that, from around 1998, they had shuffled stock in order to conceal paper losses amounting to nearly 100 billion yen, resulting from investment failures by Olympus Corp’s financial management during the last years of Japan’s bubble economy in the late 1980’s. The concealment was carried out by moving losses offshore to overseas funds, and then burying the fund losses with money obtained in the acquisition of three domestic venture companies and a UK medical device manufacturer.

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Sarah Mansfield

Sarah Mansfield – Sales and Marketing Analyst

We are pleased to announce that Sarah Mansfield has recently been appointed as our Sales and Marketing Analyst based in our London office. Sarah will report directly to Stephen Everard CEO and will be responsible for the administration and development of Goal’s sales & marketing efforts globally which will include tasks such as maintaining the sales pipeline, website updates, regular sales meetings with Goal’s global offices and network of sales agents, managing Goal’s relationship with publishers and PR companies.

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The London Olympics Torch relay passed through Croydon today just a few metres from Goal’s offices.

These photos were taken by our staff:

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Goal Group is pleased to report that we have recovered circa $5million in the New Century Financial class action lawsuit.

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